• The School of Business
  • The School of Arts
  • The School of Wellness
  • The School of Fitness
  • The School of Public Affairs
Tuesday, October 21, 2025
  • Login
  • Register
No Result
View All Result
  • The School of Business
  • The School of Arts
  • The School of Wellness
  • The School of Fitness
  • The School of Public Affairs
No Result
View All Result
Press Powered by Creators

UK economy grows more than expected, according to official figures | Money News

The Owner Press by The Owner Press
May 15, 2025
in Business News
Reading Time: 4 mins read
A A
0
Share on FacebookShare on Twitter


The UK financial system confirmed robust development within the first three months of the yr, in keeping with official figures.

Gross home product (GDP) – the usual measure of an financial system’s worth – grew 0.7% within the first quarter of 2025, the Workplace for Nationwide Statistics mentioned.

The rise is best than anticipated. A rise of simply 0.6% was anticipated by economists polled by the Reuters information company.

Money blog: Reaction as UK economy grows more than expected

It is considerably higher than the three months earlier, by which a slight financial growth of just 0.1% was reported for the ultimate quarter of 2024.

Learn extra:
Burberry to cut 1,700 jobs after multi-million pound loss
Co-op updates on recovery after cyber attack forced empty shelves

The ONS additionally mentioned there was a small quantity of development final month, as GDP expanded 0.2% in March, which equally beat expectations.

No development in any respect had been forecast for the month.

How did the financial system develop?

A big contribution to excessive GDP development was a rise in output within the manufacturing sector, which rose 1.1%, pushed by manufacturing and a 4% enhance in water provide, the ONS mentioned.

Additionally working to push up the GDP determine was 0.7% development within the greatest a part of the UK financial system – the providers trade.

Please use Chrome browser for a extra accessible video participant


preview image

3:42

‘Here is the priority with GDP figures’

Wholesale, retail and pc programming providers all carried out nicely within the quarter, as did automobile leasing and promoting, the ONS mentioned.

It reveals the financial system was resilient, because the nation headed into the worldwide commerce battle sparked by President Trump’s so-called ‘liberation day’ tariff announcement on 2 April.

GDP per capita, which supplies a greater sense of how nicely off or not individuals are feeling, has tended to be decrease than the headline GDP determine in recent times.

However for the primary three months of this yr, GDP per capita rose 0.5%.

Not for a yr (the primary quarter of 2024) has there been such giant GDP development per head.

Please use Chrome browser for a extra accessible video participant


Rachel Reeves

6:11

Chancellor: ‘We’re a powerful financial system’

Welcome political information, for now

The info is welcome information for a authorities who’ve recognized rising the financial system as its primary precedence.

Chancellor Rachel Reeves is taking the figures as a political win, saying the UK financial system has grown sooner than the US, Canada, France, Italy and Germany.

“Right now’s development figures present the energy and potential of the UK financial system, ” she mentioned.

“Up towards a backdrop of worldwide uncertainty, we’re making the precise decisions now within the nationwide curiosity.”

Such GDP numbers could not proceed into April as companies and customers had been hit with a raft of invoice rises, and Mr Trump’s tariffs fired the beginning gun on a world commerce battle.

Final month, water, power and council tax payments rose throughout the nation whereas employers confronted larger wage prices from the rise of their nationwide insurance coverage contributions and the minimal wage.

However above-inflation wage development and fading client warning might proceed to spice up the financial system.



Source link

Tags: EconomyExpectedfiguresgrowsMoneyNewsofficial
Share30Tweet19
Previous Post

Sir Keir Starmer in talks with ‘a number of countries’ over return hubs for failed asylum seekers | Politics News

Next Post

Economists are as confused as Trump about taxing the rich

Recommended For You

Rachel Recchia Calls Out Louis for Perfect Match Season 3 Spoiler
Business News

Rachel Recchia Calls Out Louis for Perfect Match Season 3 Spoiler

by The Owner Press
August 6, 2025
Inside Taylor Swift & Travis Kelce’s Thanksgiving Plans
Business News

Inside Taylor Swift & Travis Kelce’s Thanksgiving Plans

by The Owner Press
November 30, 2024
Social Media Reacts To RFK Jr.'s Confirmation As Health Secretary
Business News

Social Media Reacts To RFK Jr.'s Confirmation As Health Secretary

by The Owner Press
February 13, 2025
Venezuelan Opposition Leader Says ‘Hooded Men’ Kidnapped His Son-In-Law
Business News

Venezuelan Opposition Leader Says ‘Hooded Men’ Kidnapped His Son-In-Law

by The Owner Press
January 9, 2025
How AI Agents Enhance Clinician Productivity
Business News

How AI Agents Enhance Clinician Productivity

by The Owner Press
July 23, 2025
Next Post
Economists are as confused as Trump about taxing the rich

Economists are as confused as Trump about taxing the rich

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LEARN FROM TOP VERIFIED OWNERS

Book an Office Hour

Related News

Google keeps growing, as federal judges decide whether to break it up

Google keeps growing, as federal judges decide whether to break it up

April 25, 2025
Democrats Balk At Donald Trump’s Surprise New Demand As Government Shutdown Looms

Democrats Balk At Donald Trump’s Surprise New Demand As Government Shutdown Looms

December 19, 2024
More than 36,000 migrants crossed English Channel to UK in 2024 – up 25% on 2023 | Politics News

More than 36,000 migrants crossed English Channel to UK in 2024 – up 25% on 2023 | Politics News

January 1, 2025

The Owner School

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    

Recent Posts

Bank of England job fears as Andrew Bailey warns of tough choices | UK News

Bank of England job fears as Andrew Bailey warns of tough choices | UK News

October 21, 2025
Prison officers should be armed with lethal weapons to crack down on Islamist terrorists, Tories say | Politics News

Govt to allow early release of thousands of rapists and violent criminals, Tories claim in sentencing row | Politics News

October 21, 2025
How Jared Kushner Re-emerged at the Center of the Israel-Hamas Peace Deal

How Jared Kushner Re-emerged at the Center of the Israel-Hamas Peace Deal

October 21, 2025

CATEGORIES

  • Business News
  • The School of Arts
  • The School of Business
  • The School of Fitness
  • The School of Public Affairs
  • The School of Wellness

BROWSE BY TAG

Australia big Cancer China climate Day deal Donald Entertainment Fashion Football Gaza government Health League live Money News NPR people Politics reveals Science scientists Season show Star Starmer Study talks tariff tariffs Tech Time Top trade Trump Trumps U.S Ukraine War White win World years

RECENT POSTS

  • Bank of England job fears as Andrew Bailey warns of tough choices | UK News
  • Govt to allow early release of thousands of rapists and violent criminals, Tories claim in sentencing row | Politics News
  • How Jared Kushner Re-emerged at the Center of the Israel-Hamas Peace Deal
  • The School of Business
  • The School of Arts
  • The School of Wellness
  • The School of Fitness
  • The School of Public Affairs

© 2024 The Owner Press | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • The School of Business
  • The School of Arts
  • The School of Wellness
  • The School of Fitness
  • The School of Public Affairs
  • Login
  • Sign Up

© 2024 The Owner Press | All Rights Reserved